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HOUSTON-Inbesa America is the buyer of the tract once destined to be a waste incineration facility. American Envirotech abandons the plan and sells the land. The asking price was $1.25 million.
ORLANDO-The investor group, headed by Christopher M. Swartz, CEO of Heathrow, FL-based Ultimate Franchise Systems Inc., paid Ultimate $2 million for the stake. Ultimate has 350 franchised restaurants in 30 states encompassing an estimated seven million sf.
HOLLYWOOD, CA-Investment group SWI LLC buys a 14,000-sf retail and office building on Highland Avenue from Highland Partners. The property is leased long term to a longstanding paint store chain.
HOUSTON-An invitation-only auction is being held today in New York City for the 1.2-million-sf Enron Center South in Houston. The bankrupt energy giant could reject any and all bids, but most likely won't. The buyers' list has been pared to five.
PORTLAND-Umpqua Holdings Corp. receives $70 million in capital financing to fund the cash portion of the previously announced $215-million merger with Centennial Bancorp. The transaction is expected to close in the fourth quarter.
FAIRFAX, VA-Parvizian Masterpieces commits to 24,000 sf of space in the 268,000-sf Fairfax Shopping Center. The new locale is the rug and furniture outlet's fourth store in the Washington Metropolitan region.
AUSTIN-Vacancy posted at 24.65% at the Q3 close, up just a shade in three months although sublease space tapered. A level of stability seems to be settling over the Austin office market so tenants might want to think about taking action now.
CAMBRIDGE, MA-Harvard Business School kicks off a $500-million capital campaign to fund a renewal of the school's campus as well as a number of support initiatives. The initiative is the most ambitious in the school's history.
MIAMI-Crescent Real Estate Equities Co. of Fort Worth, TX received about $142.30 psf for the 780,000-sf class A office Miami Center. New York-based JPMorgan Fleming acquired a 60% interest; Crescent retains a 40% ownership.
LONDON-Liverpool City Council has granted planning permission for Grosvenor and Henderson Global Investors' one million-sf retail-led scheme for the Paradise Street area of the city centre.